Voleon Capital Management LP Has $2.33 Million Stock Position in Telephone and Data Systems, Inc. $TDS

Key Points

• Voleon Capital Management LP increased its holdings in Telephone and Data Systems, Inc. by 267.2%, owning $2.33 million worth of shares after purchasing an additional 43,780 shares.
• Several institutional investors have also increased their stakes in Telephone and Data Systems, with 80% of the stock now owned by such investors and hedge funds.
• Analysts have upgraded the stock from "strong sell" to "hold," with a consensus target price of $52.00, while the company reported a quarterly loss of ($0.05) EPS, missing estimates.

Voleon Capital Management LP increased its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 267.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,166 shares of the Wireless communications provider's stock after acquiring an additional 43,780 shares during the period. Voleon Capital Management LP owned about 0.05% of Telephone and Data Systems worth $2,331,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TDS. Bayforest Capital Ltd grew its position in Telephone and Data Systems by 121.8% during the 1st quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider's stock worth $52,000 after acquiring an additional 737 shares during the last quarter. Lazard Asset Management LLC grew its position in Telephone and Data Systems by 85.6% during the 4th quarter. Lazard Asset Management LLC now owns 4,092 shares of the Wireless communications provider's stock worth $139,000 after acquiring an additional 1,887 shares during the last quarter. Forum Financial Management LP bought a new stake in Telephone and Data Systems during the 1st quarter worth approximately $200,000. Greenleaf Trust bought a new stake in Telephone and Data Systems during the 1st quarter worth approximately $202,000. Finally, Highland Capital Management LLC bought a new stake in Telephone and Data Systems during the 1st quarter worth approximately $205,000. 80.00% of the stock is currently owned by institutional investors.

Telephone and Data Systems Trading Down 0.3%

Shares of NYSE:TDS traded down $0.13 during midday trading on Friday, hitting $39.25. The company had a trading volume of 682,394 shares, compared to its average volume of 1,013,416. Telephone and Data Systems, Inc. has a 12 month low of $22.51 and a 12 month high of $42.74. The company has a current ratio of 1.78, a quick ratio of 1.65 and a debt-to-equity ratio of 0.85. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of -40.46 and a beta of 0.48. The firm has a fifty day simple moving average of $38.81 and a 200 day simple moving average of $36.54.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The Wireless communications provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). Telephone and Data Systems had a positive return on equity of 0.92% and a negative net margin of 0.85%.The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business earned ($0.13) earnings per share. The firm's revenue for the quarter was down 5.7% on a year-over-year basis. On average, analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Telephone and Data Systems's dividend payout ratio (DPR) is presently -16.49%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TDS. JPMorgan Chase & Co. increased their price target on Telephone and Data Systems from $53.00 to $54.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 12th. Zacks Research upgraded Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. Wall Street Zen upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, Raymond James Financial increased their price objective on Telephone and Data Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $52.00.

Insiders Place Their Bets

In other Telephone and Data Systems news, Director Prudence E. Carlson sold 4,452 shares of Telephone and Data Systems stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.50, for a total value of $171,402.00. Following the sale, the director owned 311,005 shares of the company's stock, valued at $11,973,692.50. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Anita J. Kroll sold 8,608 shares of Telephone and Data Systems stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $39.09, for a total value of $336,486.72. Following the completion of the sale, the chief accounting officer directly owned 17,087 shares in the company, valued at $667,930.83. This represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,650 shares of company stock worth $10,690,789. 14.48% of the stock is owned by corporate insiders.

About Telephone and Data Systems

Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through two segments: UScellular and TDS Telecom. The company offers wireless solutions to consumers, and business and government customers, including a suite of connected Internet of things (IoT) solutions, and software applications for monitor and control, business automation/operations, communication, fleet and asset management, smart water solutions, private cellular networks and custom, and end-to-end IoT solutions; wireless priority services and quality priority and preemption options; smartphones and other handsets, tablets, wearables, mobile hotspots, fixed wireless home internet, and IoT devices; and accessories, such as cases, screen protectors, chargers, and memory cards, as well as consumer electronics, including audio, home automation and networking products.